Indian Renewable Energy Development Agency (IREDA), PSU under the Ministry of New & Renewable Energy (MNRE) has announced audited financial result for the first quarter ended on June 30, 2022.

Profit Before Tax (PBT) has been posted by the company of Rs. 339.86 crore which is 72% higher compared to Rs. 197.20 crore in the quarter 1 of the previous financial year.

IREDA’s Net Non-Performing Assets have been reduced to 2.92% in Quarter 1, financial year 2022-23 from 4.77% in quarter 1, financial year 2021-22, a significant reduction of 39% year-over-year.

CMD, IREDA, Pradip Kumar Das has highlighted: “IREDA has not only clocked its highest ever quarterly PBT of 339.86 crore, but also registered a significant reduction in gross and NPAs which is a big achievement for any NBFC.